Commerce Bank Cuts Position in Houlihan Lokey, Inc. (NYSE:HLI)

Commerce Bank trimmed its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 6.5% during the third quarter, Holdings Channel reports. The institutional investor owned 7,577 shares of the financial services provider’s stock after selling 525 shares during the quarter. Commerce Bank’s holdings in Houlihan Lokey were worth $698,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HLI. Liberty Wealth Management LLC purchased a new stake in shares of Houlihan Lokey during the second quarter worth approximately $27,000. Vigilant Capital Management LLC purchased a new position in Houlihan Lokey in the third quarter valued at approximately $29,000. Exchange Traded Concepts LLC increased its stake in Houlihan Lokey by 42.3% in the third quarter. Exchange Traded Concepts LLC now owns 555 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 165 shares during the last quarter. Van ECK Associates Corp increased its stake in Houlihan Lokey by 135.7% in the second quarter. Van ECK Associates Corp now owns 726 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 418 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Houlihan Lokey by 18.1% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 980 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

In other Houlihan Lokey news, CFO J Lindsey Alley sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $116.93, for a total value of $1,169,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 26.02% of the stock is currently owned by company insiders.

Shares of NYSE HLI opened at $114.96 on Friday. The stock has a fifty day moving average price of $109.41 and a 200 day moving average price of $97.87. Houlihan Lokey, Inc. has a 1-year low of $63.38 and a 1-year high of $122.62. The company has a market cap of $7.85 billion, a PE ratio of 19.00 and a beta of 0.68.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Thursday, October 28th. The financial services provider reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.54. Houlihan Lokey had a return on equity of 30.69% and a net margin of 21.39%. The firm had revenue of $537.30 million during the quarter, compared to the consensus estimate of $372.02 million. During the same period last year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was up 94.9% on a year-over-year basis. On average, research analysts expect that Houlihan Lokey, Inc. will post 6.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Thursday, December 2nd were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Wednesday, December 1st. Houlihan Lokey’s dividend payout ratio (DPR) is currently 28.43%.

Several equities analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Houlihan Lokey from a “neutral” rating to a “buy” rating and increased their price target for the company from $116.00 to $126.00 in a research note on Thursday, January 6th. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from an “underperform” rating to a “market perform” rating and increased their price target for the company from $86.00 to $110.00 in a research note on Friday, October 29th. JMP Securities reissued a “hold” rating on shares of Houlihan Lokey in a report on Tuesday, October 26th. Citigroup raised Houlihan Lokey from a “neutral” rating to a “buy” rating in a report on Tuesday, January 4th. Finally, Zacks Investment Research raised Houlihan Lokey from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a report on Friday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Houlihan Lokey presently has a consensus rating of “Hold” and a consensus price target of $113.00.

About Houlihan Lokey

Houlihan Lokey, Inc engages in the provision of investment banking services. It operates through the following segments: Corporate Finance, Financial Restructuring and Financial and Valuation Advisory. The Corporate Finance segment provides general financial advisory services in addition to advice on mergers and acquisitions and capital markets offering.

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Institutional Ownership by Quarter for Houlihan Lokey (NYSE:HLI)

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